Altice USA (NYSE:ATUS) announced its earnings results on Monday. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08, Briefing.com reports. Altice USA had a negative return on equity of 5.44% and a net margin of 19.65%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the business earned ($0.25) EPS. The company’s revenue was up 4.1% compared to the same quarter last year. Altice USA updated its FY 2018 guidance to EPS.
Altice USA stock opened at $17.90 on Wednesday. Altice USA has a 12 month low of $14.49 and a 12 month high of $25.15. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 5.65. The company has a market capitalization of $12.07 billion, a P/E ratio of 895.00 and a beta of 0.74.
A number of equities analysts have recently weighed in on the company. TD Securities boosted their target price on Altice USA from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, September 17th. Credit Suisse Group assumed coverage on Altice USA in a research note on Tuesday, July 10th. They issued an “outperform” rating and a $21.00 target price on the stock. Zacks Investment Research upgraded Altice USA from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Citigroup cut their target price on Altice USA from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. Finally, Royal Bank of Canada cut their target price on Altice USA to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, August 9th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Altice USA currently has an average rating of “Buy” and a consensus price target of $24.67.
In related news, SVP Victoria Mink sold 37,502 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $18.99, for a total value of $712,162.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP David Connolly sold 129,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $18.31, for a total value of $2,361,990.00. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
An institutional investor recently raised its position in Altice USA stock. Bank of New York Mellon Corp boosted its position in Altice USA Inc (NYSE:ATUS) by 51.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,994 shares of the company’s stock after purchasing an additional 28,557 shares during the period. Bank of New York Mellon Corp’s holdings in Altice USA were worth $1,433,000 as of its most recent SEC filing. 37.18% of the stock is owned by institutional investors and hedge funds.
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Altice USA Company Profile
Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States. The company operates in two segments, Cablevision and Cequel. It delivers broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content, and advertising services to approximately 4.9 million residential and business customers.
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